Tue.Jan 30, 2024

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Preparers mixed on IRS improvements

Accounting Today

With the agency touting improved service and response times, tax practitioners are acknowledging the gains, but still see room for more.

Tax 323
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A new tool to make taxes more transparent

Intuit

It’s no secret that the federal tax code is long, complex, and difficult to understand. In fact, many Americans don’t have a clear understanding of how the tax code works or what federal programs and initiatives their tax dollars support. Understandably, this lack of transparency can be a massive source of frustration every tax season. More than 80 percent of Americans say that the complexity of the federal tax system bothers them.

Tax 130
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A pre-season risk checkup can save post-season regret

Accounting Today

Accountants and tax pros need to take steps to protect themselves as they start the countdown to April 15.

Tax 317
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Acumatica Will Return to Las Vegas for 2025

Insightful Accountant

During the 2nd-day of their 2024 Summit, Acumatica announced the event’s date and location for 2025. They also premiere new features and functionalities that will be implemented with their 2024R1 and R2 updates.

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Breaking Ground on Better Payment Processes: Strategies for Construction Pros

Speaker: Timothy Allsopp

Payment challenges often lead to delayed projects, financial bottlenecks, and strained relationships. With construction projects becoming more complex, outdated processes are no longer sustainable. By refining financial workflow, companies can improve cash flow, reduce error, and foster trust between stakeholders. Discover practical strategies for redesigning payment systems to overcome workflow challenges while creating a smoother, more reliable process for contractors and subcontractors alike.

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42% of finance leaders don't trust their own data

Accounting Today

A recent survey has found that, despite an increasingly data-driven business world, 42% of finance leaders don't completely trust data from their own organizations.

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Acumatica Will Return to Las Vegas for 2025

Insightful Accountant

During the 2nd-day of their 2024 Summit, Acumatica announced the event’s date and location for 2025. They also premiere new features and functionalities that will be implemented with their 2024R1 and R2 updates.

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How Dext Prepare Builds Streamlined Accounting for the Construction Industry

Dext

About Northwest Construction Cooperative Northwest Construction Cooperative is a construction business based in Olympia – Washington, specialized in residential remodeling and new custom homes.

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NY sues FDIC over $44M in unpaid Signature Bank taxes

Accounting Today

The city's department of finance audited Signature after the bank shuttered in March and found tax deficiencies for years 2015 through 2021 related to unreported income allocation and adjustments to investment and capital income.

Tax 211
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Common Cash Receipt Challenges

oAppsNet

Various challenges can arise in world financial management, threatening the stability and accuracy of cash receipt processes. This comprehensive exploration delves into the typical cash receipt challenges businesses face, unraveling strategies to navigate turbulent financial waters and emerge with financial clarity. 1. Manual Data Entry Errors: The Quagmire of Human Oversight One of the perennial challenges in cash receipts management is the propensity for manual data entry errors.

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Andersen expands valuation practice in Latin America

Accounting Today

The international network has signed up five collaborating firms in Argentina, Chile, Colombia and Mexico.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Six Benefits of Outsourcing Accounting For CPA Firms

Outsourced Bookeeping

Certified Public Accountant (CPA) firms face numerous challenges, ranging from technological advancements to the complexities of globalization and regulatory changes. Striking a balance between business growth and managing accounting tasks is a daunting task for many CPA firms. To overcome this challenge, an increasing number of CPA firms are turning to outsourcing as a strategic solution.

CPA 52
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KPMG UK partners lowest paid of Big Four at £746K

Accounting Today

The firm delivered a 4% rise to its 833 U.K. partners, similar to last year's levels, but they remain at the bottom of the pay table.

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Expense Reimbursement

Tipalti

Having a streamlined and efficient expense reimbursement process is critical for any business looking to maximize profits and not leave money on the table.

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PCAOB spotlights broker-dealer audit problems

Accounting Today

The Public Company Accounting Oversight Board staff report offered insights into the PCAOB's inspection program for auditors of broker-dealers and issues with professional skepticism and low-ball fees.

Auditing 189
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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Annual Trends Survey from Center Reveals Corporate Card Usage is Outpacing Software Adoption, Highlighting Need for Integrated Expense Management Solutions

Insightful Accountant

60% of SME Respondents Would Consider New Solutions, Citing Simplicity, Improved User Experience and Lower Cost as Drivers of Change

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Federal tax relief for Rhode Island storm victims

Accounting Today

The IRS is pushing back payment and filing deadlines.

Tax 189
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Understanding GCP Storage Pricing

finout

?Explore GCP storage pricing and optimization strategies in our guide for effective cost management.

FinOps 52
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Practice profile: A passion practice

Accounting Today

Joshua Beal's DeafTax thrives by serving the hearing-impaired community — as clients and employees

Tax 189
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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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Listener Mail: Finding Balance with Tech & CPA Pipeline Problem

Cloud Accounting Podcast

This week, Blake and David Leary sort through the mail and respond to a variety of listener emails and voicemails. Amongst the topics covered, they explore working as a TurboTax preparer to barriers faced by career-changers entering public accounting. They go on to debate the root causes behind accounting's heavy workloads and offer perspectives on how licensing rules and firm profitability shape experiences.

CPA 50
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Ex-Freshfields partner convicted over tax scandal

Accounting Today

An ex-Freshfields Bruckhaus Deringer partner who helped top investment banks navigate the Cum-Ex trading strategy behind Europe's biggest tax scandal was sentenced to three and a half years in prison.

Tax 189
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Expense Reconciliation

Tipalti

How can expense reconciliation affect your bottom line and how can you most efficiently reconcile expense reports? Learn about common challenges and how to overcome them.

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How does entity choice affect QBI deductions?

Accounting Today

With the Qualified Business Income tax deduction of 20% set to expire in 2025 (unless it's extended), clients who are starting a business may wonder how their choice of entity will impact their QBI deduction and ultimately their bottom line.

Tax 157
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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Currency swap definition

Accounting Tools

What is a Currency Swap? A currency swap is a spot transaction on the over-the-counter market that is executed at the same time as a forward transaction, with currencies being exchanged at both the spot date and the forward date. One currency is bought at the spot rate and date, while the transaction is reversed at the forward date and rate. Thus, once the swap expires, both parties return to their original positions.

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In the blogs: To put it simply

Accounting Today

Incentives and resistance; inspiring staff ambition; the keys to change; and other highlights from our favorite tax bloggers.

Tax 150
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Certified public accountant (CPA) definition

Accounting Tools

What is a Certified Public Accountant? A certified public accountant is an accountant who has passed all parts of the CPA examination, as administered by the American Institute of Certified Public Accountants , and who has completed all additional work and educational requirements of their local state accounting regulatory agency. A CPA is authorized to render an opinion on the fairness of a client's financial statements.

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2024 Best Firms to Work For applications being accepted

Accounting Today

The window for participating in Accounting Today and Best Companies Group's annual ranking is currently open.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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Employer payroll taxes definition

Accounting Tools

What are Employer Payroll Taxes? Employer payroll taxes include taxes primarily related to employee benefits and unemployment funds. The liability and withholding obligations for these taxes are as follows: The total amount of payroll taxes collected by the employer from employees , as well as those recorded as an expense by the employer. The employer is responsible for remitting both types of payroll taxes to the applicable governments.

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Understaffed? Under-budgeted? Your tax department can still thrive

Accounting Today

These five management tips can lead dwindling teams to meet compliance requirements — and turn tax departments into value-add parts of an organization.

Budgeting 145
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Material yield variance definition

Accounting Tools

What is the Material Yield Variance? The material yield variance is the difference between the actual amount of material used and the standard amount expected to be used, multiplied by the standard cost of the materials. The standard unit usage is developed by the engineering staff, and is based on expected scrap rates in a production process, the quality of raw materials , losses during equipment setup, and related factors.

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Spend Control

Tipalti

When it comes to managing company expenses, it may be tempting to over optimize the way your company spends money. But doing so can actually cut into your revenue by making it more difficult for your teams to do their jobs and maintain daily operations.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.